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today’s news for Tuesday, September 28, 2021

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NEWS FROM NASFAA

As the Department of Education (ED) embarks on resuming repayments on federal student loans, it must also contend with the potential exit of additional servicer contracts, all of which are slated to expire at year’s end. According to experts the potential for all servicers to end their contracts during the ongoing negotiations is unlikely, but the process of moving a significant portion of borrowers to new servicers creates an additional hurdle for the department to contend with as it aims to ensure that borrowers are successfully put into repayment.

NASFAA today joined dozens of other higher education organizations and associations in a commitment to make learning democracy and civic principles a top priority for postsecondary education. The Civic Learning and Democracy Engagement (CLDE) organization the coalition NASFAA is joining, which seeks to make institutions of higher education a training ground for civic leadership and community engagement.

Nearly two dozen attorneys general have submitted written comments to the Department of Education (ED) urging the agency to take “drastic” action to ensure that public servants have access to the promise of loan forgiveness. The letter, written in response to ED’s solicitation of comments for information on Public Service Loan Forgiveness (PSLF) program administration, praised the agency’s commitment to addressing barriers for borrowers and seeks to highlight how federally promised benefits have remained elusive to eligible beneficiaries.

According to a Federal Register notice posted Monday, the secretary of education may waive the requirements to reduce a school’s Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) allocation by 50% if an institution of higher education demonstrates need in their application. The notice applies to any institutions that paid or were required to pay the endowment excise tax in tax year 2019 and were subject to have their Higher Education Emergency Relief Fund (HEERF) allocation reduced by 50%, as outlined in the second federal coronavirus relief package. 

NASFAA UPDATES AND ANNOUNCEMENTS

The September 2, 2020 Distance Education and Innovation Final Rules made numerous changes to satisfactory academic progress (SAP) rules and to R2T4 requirements for programs offered in modules. Join NASFAA's David Futrell and Tiffany Gibbs to review key SAP changes you may have missed and to cover frequently-asked questions from our previous R2T4 webinar. Register now.

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